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Sunday, December 13, 2009

Don't Look Now, But Back Come the Fat Cats

Today, President Obama is quoted as follows:

President Barack Obama lashed out at Wall Street, calling bankers "fat cats" who don't get it, in an escalation of tensions with the industry.Mr. Obama, speaking on the eve of Monday's meeting with the heads of major banks at the White House, said he would try to persuade bankers to free up more credit to businesses, with the aim of boosting job growth. But the president also expressed frustration with banks that the government has assisted."I did not run for office to be helping out a bunch of fat cat bankers on Wall Street," Mr. Obama said in an interview on CBS's "60 Minutes" program on Sunday."They're still puzzled why is it that people are mad at the banks. Well, let's see," he said. "You guys are drawing down $10, $20 million bonuses after America went through the worst economic year that it's gone through in -- in decades, and you guys caused the problem. And we've got 10% unemployment."

At this point, all I ask is for a degree of professionalism in the job you hold. Is that too much. Calling bankers "Fat Cats"? What is this? Are we back to the Monopoly game caricature days?

See my last post, but yes, it makes sense for bankers not to be making loans. It's your own policies and the Fed Bank's policies that are giving them every incentive in the world to do. An interest free loan where they turn around and buy a T-Bill for 3 to 4 percent from the government that lent them the money. I'd say that's an incentive to not lend since there's little risk, wouldn't you? This man has been told how great he is by his sycophants for so long, I don't think he knows how to take responsibility for the stupid things he's done. Bad policies have consequences. Why lash out when your only seeing the fruits of what you've done? Just admit your mistakes and change your approach. Instead he just increases spending, pushes harder for an awful healthcare, energy, and other miscellaneous plans. The last thing a liberal can do is admit they're wrong. So I understand it, I just wish we were dealing with normal people.